Hoboken Condo Market Weekly Stats

We seem to be keeping about the same pace for contracts signed and for closings. This indicates a market where the smart deals are being snapped up by savvy buyers but where the overall market is still rather tame.

What’s exciting are all the great deals out in the marketplace, the fantastic interest rates, the first time home buyers credit (expires end of this year) and the quality of many of the homes. Anyway, here are the stats!

Weekly statistics 5/10/09- 5/17/09

11 condos went into contract last week, up just slightly from the 9 units from the last report.

4 condos closed last week. 3 closings the previous report.

As of today, there are a total of 140 Hoboken properties pending to close (133 last week).

As of today there are 576 Hoboken condos actively listed for sale in our MLS which is down from last weeks high of 581 units. Average asking price is $574,310 ($605,753 last week) and median price is $525,000 ($529,000 last week). Days on market average 101 (103 last week).

All of these statistics are compiled from the Hudson County Multiple Listing Service (HCMLS) and do not include properties that are not listed on this MLS such as some new construction and for-sale-by-owners.

Firm accepted offers are offers that have cleared the mandatory attorney review process and are now considered a binding contract of sale.